Michigan Real Estate News

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Bedrock Purchases Stroh River Place Property

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Bedrock LLC finalized the purchase of the Stroh River Place property from The Stroh Companies, Inc. The 500,000-square-foot building sits in the Rivertown Warehouse District, east of downtown Detroit. The purchase includes 735 parking spaces and 4.4 acres of undeveloped land. The property sits along the 3.5-mile Detroit Riverwalk and is the company’s second purchase outside of downtown Detroit. The site used to be a manufacturing and research facility. The Stroh Brewery Company purchased the building in 1979 and renovated it.

Building Permit Application Lets The Cat Out Of The Bag

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Because of a building permit application, the Apple Developer Academy’s future site is finally public knowledge.  The Apple Developer Academy is going into the 850,000 square foot National Building in downtown Detroit. It will be located on the second and third floors of the building. Based on permit cost, construction is estimated to be $1.41 million. The program will cover coding, design and entrepreneurship.

Black-Owned Commercial Real Estate Firm Adds Diversity

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The commercial real estate industry is historically homogeneous, populated largely by white men in the executive ranks, even in a city like Detroit, where the population is more than 80 percent Black. The Greenwood Commercial Real Estate Group adds some diversity to the homogeny. The firm is named for the Greenwood District of Tulsa, Oklahoma,  commonly called Black Wall Street and at one time a thriving Black economic hub before it was destroyed in 1921 after the arrest of a young Black man for the purported “assault” of a 17-year-old white girl. James Pitts, head of the Atlanta office of Greenwood, believes that Greenwood CRE will help Black real estate professionals break into commercial real estate.